The Vijay Govindarajan Video Series Week 21
In this week’s video – the thirtieth in our exclusive series Breakthrough Innovation with the Three Box Solution – innovation expert Vijay Govindarajan outlines three key organizational challenges that must be overcome in order to successfully execute Box 3 innovation:
- The Challenge to Forget, which is more difficult than you think – VG reminds us of the story of the four monkeys in Video 10. The trouble is that assumptions become so deeply embedded in policy, systems, and structure that we know longer question why we do things, even when the environment changes.
- The Challenge to Borrow. In order to facilitate Box 3 innovation you need to construct a new organizational logic. There are, however, some critical assets that you already have in your performance engine that could benefit your new organizational structure, although you will need to manage the conflicts between the new organizational logic and the dominant logic of the performance engine.
- The Challenge to Learn. Every box 3 experiment is essentially a bet on the future. VG outlines how an assumption-knowledge ratio can help keep the cost of failure cheap. By learning how to test your Box 3 hypotheses, you can convert assumptions into knowledge, resolve the unknowns, and reverse the ratio.
Video 30: 3 Challenges and Principles of Execution.
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